DLF says sells part of wind power assets for 2.82 billion rupees

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Last Updated: Thu, Jan 31, 2013 08:40 hrs

DLF Ltd said on Thursday it would sell part of its wind power assets with a capacity of 150 megawatts to Bharat Light and Power Pvt Ltd for 2.82 billion rupees ($52.8 million) as part of its plans to reduce debt.

DLF signed an agreement with BLP for the transfer of the assets, located in Kutch in the western Indian state of Gujarat, the statement said.

DLF has a total of 227 MW capacity wind turbines across four Indian states, it said.

DLF, which builds homes and offices mainly in its key market of northern India, said in November last year that it intended to sell non-core assets to reduce its 232 billion rupees ($4.2 billion) worth of debt..